- Nearly 18 months after the coup in Myanmar, Professor David Kinley asks why Australia’s Future Fund is still investing in Adani Ports whose contracts with the Myanmar military are worth $290 million.
- At $3.2 million, the Future Fund’s equity holding in Adani Ports is relatively small. The concern lies not so much in the dollar value of the Future Fund’s investment in Adani Ports, but in the process by which it saw fit to maintain its investment after the military coup in Myanmar in early February 2020 and following revelations that Adani Ports was engaged in ongoing and substantial commercial relations with the military-owned and controlled Myanmar Economic Corporation (MEC).
- The Fund’s Adani Ports’ holdings could well be considered a breach of Australia’s obligations under international human rights laws, both the substance of the Future Fund’s investment policies.
- The Future Fund, therefore, owes it to Australian taxpayers – if not to the people of Myanmar even more – to take responsibility and show leadership by divesting from any company that retains commercial dealings with the Myanmar military.